End of this rally?

In such sustained bear markets, trend reversals are usually very sharp (V bottom pattern) and amplified by short covering. This is why we I'm not sure that the recent bullish rally will be sustained as the SP500 and the DJ Euro Stoxx 50 are now close to resistance zones (respectively 1300 and 3400)

The Financials stocks are probably the key here as the rally in US financial stocks has driven prices near a key Fibonacci level.(38.2%)

A failure to break above the 72 level could see the index drop back quickly.